C.60 its the same size and shape as the 60 above it
We can assign the value "2x" as the amount of money that Amelia which to achieve in twelve years.
So, his initial money is X.
We can try each percent to test if it could double the amount in 12 years.
x+0.06*12years*x=1.72X
x+0.12*12*x=1.44x
x+0.1*12*x=2.2x
x+0.166*12*x=2.992x
Therefore, the answer is 10 percent.
Answer: $96.8
Step-by-step explanation:
Formular for Compounding annually :
A =P ( 1 + r/n) ^nt
Where p is the Principal given as $80
r is the rate given as 10% = 10/100 = 0.1
n is the number of times the principal was compounded, given as 1
t is the time, given as 2 years:
Slot the values into the formula:
A= $80 ( 1 + 0.1/1) ^ (1 × 2)
A= $80 ( 1 + 0.1) ^2
A= $80 ( 1.1) ^2
A= $80 (1.21)
A= $80 x 1.21
A= $96.8
96.8 is already rounded to the nearest cent.
Answer:
I'll setup the problem and you can do the calculations
Step-by-step explanation:
The formula for simple interest:
I = P*r*t
I = interest
P = principle or amount invested
r = interest rate per period (period is a year)
t = number of periods
P = 4920
r = .13
t = 8
if you have questions, send a comment
